ISLAMABAD, Jan 2 (APP): The Akhuwat Foundation on Tuesday warned the general public to be vigilant of fraudulent activities, by some crony
elements, misusing its name and said it would not be accountable for any dishonest transaction.
The Foundation spokesman, in a statement, clarified that the Akhuwat Islamic Microfinance was operating as an interest-free entity, which offered loans to poor people and managed its repayments in installments through its branch network.
He noted that some individuals were misusing the institution’s name and educational services for fraudulent activities.
“The Akhuwat Foundation explicitly states that it will not take responsibility for any fraudulent or deceptive transactions carried out by these individuals,” the spokesman added.
He pointed out that students, seeking admission to educational institutions within the Akhuwat network, were not paying any fees or charges. Additionally, the network did not offer scholarships, compensation or any similar benefits for students to pursue studies in other educational institutions, he added.
The spokesperson reported that some individuals with malicious intent and fraudulent entities were exploiting and misusing the name of Akhuwat Educational Services, falsely claiming to offer scholarships to students for test fees.
The misinformation in that regard was disseminated through fake social media accounts and various platforms, including websites, he said, adding it was important to note that the Akhuwat Foundation disclaimed any responsibility for dealings with such deceptive entities or individuals.
He urged the people to stay vigilant and be cautious of such fraudulent activities.
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